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Hyundai Steel to hike rebar and H beam prices– 15 Feb 11

It is reported that Hyundai Steel, the second largest steel mill in South Korea announced on February 11st to hike the prices of rebar by 50,000 won/ton due to the raising scrap price.
Hyundai Steel indicated that the current scrap average price has risen over than 500,000 WON/ton, much higher than its price in October, 2010; therefore, the company has decided to hike its rebar prices to reflect the production costs.
In fact, Hyundai Steel owns 35% market shares of rebar products and Dongkuk Steel takes 20% in South Korea.
Also, Hyundai Steel had raised its H beam prices by US$50/ton for January/February delivery on January 5th due to increasing production costs.
Feb 15, 2011 08:01
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